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|Trustees||Major General JSKerr CBE|Major General JSKerr CBE|Major General JSKerr CBE|||
|---|---|---|---|---|---|---|
|||Bdgadier<br>M J Wharmby||OBE|||
|||Lieutenant<br>Colonel|N ASmith||||
|||Colonel J D Fielden|LVO MBE||(Appointed|1 August 2021)|
|||Colonel J C West ADO|||||
|||Colonel P R Rossiter|||(Appointed|1 October 2021)|
|Charity|number|1172831|||||
|Auditor||Moore (South) LLP|||||
|||33The Clarendon<br>Centre|||||
|||Salisbury<br>Business|Park||||
|||Dairy Meadow Lane|||||
|||Salisbury|||||
|||Wiltshire|||||
|||SP12TJ|||||
|Bankers||Holt's Military Banking|||||
|||Lawrie House|||||
|||Victoda Road|||||
|||Farnborough|||||
|||Hampshire|||||
|||GU14 7NR|||||
|Solicitors||Clifton Ingram<br>LLP|||||
|||11 South Street|||||
|||Farnham|||||
|||Surrey|||||
|||GU9 7QX|||||





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|||Page|
|---|---|---|
|Trustees report||1-5|
|Statement ofresponsibilities|||
|Independent<br>auditor's|report|7-10|
|Statement offinancial|activities||
|Balance sheet||12|
|Statement ofcash flows||13|
|Notes to the financial|statements|14-27|





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||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds as|funds|as restated|
|||||||restated|||
|||Notes|2021|2021f|2021<br>6|2020<br>6|2020<br>F|2020<br>6|
|Income from:|||||||||
|Donations<br>and legacies|||381,432||381,432|378,166||378,166|
|Other trading|activities||19,925||19,925|20,994||20,994|
|Investments|||38,744|2,438|41,182|88,825|2,816|91,641|
|Total income|||440,101|2,438|442,539|487,985|2,816|490,801|
|~Edit|||||||||
|Raising funds||6|22,705||22,705|33,047||33,047|
|Charitable<br>activities||7|738,876|880|739,756|699,251||699,251|
|Other||12|52||52||||
|Total resources expended|||761,633|880|762,513|732,298||732,298|
|Net gains/(losses)||on|||||||
|investments||13|146,665|9,475|156,140|(397,473)|4,450|(393,023)|
|Net movement<br>in||funds|(174,867)|11,033|(163,834)|(641,786)|7,266|(634,520)|
|Fund balances|at 1 January||||||||
|2021|||2,916,593|111,138|3,027,731|3,558,379|103,872|3,662,251|
|Fund balances at||31|||||||
|December 2021|||2,741,726|122,171|2,863,897|2,916,593|111,138|3,027,731|





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## 

||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
|||||Notes|6|8|as restated<br>-f||
|Fixed assets|||||||||
|Tangible assets||||14||1,384,349||759,810|
|Heritage assets||||15||21,080||21,080|
|Investments||||16||1,435,727||1,688,424|
|||||||2,841,156||2,469,314|
|Current assets|||||||||
|Stocks||||18|24,975||24,975||
|Cash at bank and in|hand||||36,312||626,856||
||||||61,287||651;831||
|Creditomi amounts|falling due within||||||||
|one year||||19|(38,546)||(93,414)||
|Net cunent assets||||||22,741||558,417|
|Total assets less current|||liabiliTies|||2,863,897||3,027,731|
|Income funds|||||||||
|Restricted funds||||20||122.171||111,138|
|Unrestricted<br>funds||||||2,741,726||2,916,593|
|||||||2,863,897||3,027,731 .|
|The gnancial<br>statements||were approved||ng~r<br>by the Trustees onA.........t.~2.cr~|||||
|Major General JS Kerr||CBE|||||||
|Trustee|||||||||





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## 

|||||2021|||2020|
|---|---|---|---|---|---|---|---|
||||||||as restated|
||||Notes|||f|E|
|Cash flows from operating||activities||||||
|Cash absorbed<br>by operations|||25||(257,990)||(268,055)|
|Investing<br>activities||||||||
|Purchase oftangible fixed assets||||(782,574)||(750,377)||
|Purchase of investments||||(41,162)||(91,525)||
|Proceeds on disposal of investments||||450,000||1,469,234||
|Investment<br>income received||||41,182||91,642||
|Net cash (used in)/generated||from||||||
|investing<br>activities|||||(332,554)||718,974|
|Net cash used in financing||activities||||||
|Net (decrease)/increase<br>in|cash and cash|||||||
|equivalents|||||(590,544)||450,919|
|Cash and cash equivalents|at beginning||ofyear||626,856||175,937|
|Cash and cash equivalents||at end ofyear|||36,312||626,856|





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|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2021|2020|
|||6|F|
|Donations|and gifts|12,850|9,979|
|Grants receivable for core activities||368,582|368,187|
|||381,432|378,166|





## 

## 

|3|Donations<br>and legacies|||(Continued)|
|---|---|---|---|---|
||Grants receivable for core activities||||
||The RLCAssociation Trust Fund Annual|Grant|90,000|90,000|
||The RLCAssociation<br>Fund Shop Grant||10,000|10,000|
||Grant in Aid - Ogilby Trust||89,223|88,828|
||MOD funded staff and premises costs||179,359|179,359|
||||368,582|368,187|



## 

## 

||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2021|2020|
||||||F|F|
|Shop income|||||19,925|20,994|
|Investments|||||||
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||funds|funds||funds|funds||
||2021|2021|2021|2020|2020|2020|
||F|F.|F|F|f|6|
|Income from listed|||||||
|investments|38,724|2,438|41,162|88,709|2,816|91,525|
|Interest receivable|20||20|116||116|
||38,744|2,438|41,182|88,825|2,816|91,641|
|Raising funds|||||||
||||||Unrestricted|Unrestricted|
||||||funds|funds|
||||||2021|2020|
||||||F|F|





## 

## 

|6|Raising funds||(Continued)|
|---|---|---|---|
||S~hE*<br>Cht|||
||Cost ofSales|5,618|9,603|
||Postage|200||
||Other expenditure|1,182|1,360|
||Staff costs|15,705|22,084|
||Shop Expenditure|22,705|33,047|
|||22,705|33,047|



|||||Charitable|Charitable|
|---|---|---|---|---|---|
|||||activities|activities|
||||||as restated|
|||||2021<br>6|2020f|
|Staffcosts||||279,872|279,358|
|Depreciation|and|impairment||157,983|1,312|
|Rent, Rates|and|Utilities||47,760|47,764|
|Conservation||||3,556|14,320|
|Maintenance||||2,148|1,928|
|Collections||||441|10,009|
|Reference||||156|47|
|Postage||||34|34|
|IT||||2,953|17,862|
|Insurance||||3,481||
|Stationery||||467|930|
|Telephone||||902|1,799|
|Travel||||2,629|1,357|
|Printing<br>8 Advertising||||2,432||
|Professional|Fees and Subscriptions|||960|264|
|Training||||768|240|
|Other charitable||expenditure||223,312|311,974|
|||||729,854|689,198|
|Share ofgovernance|||costs (see note 9)|9,902|10,053|
|||||739,756|699,251|
|Analysis<br>by|fund|||||
|Unrestricted|funds|||738,876|699,251|
|Restricted funds||||880||
|||||739,756|699,251|





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## 

|||Support|Governance|2021|2020|
|---|---|---|---|---|---|
|||costs|costs|||
|||5|8|||
|Audit fees|||6,500|6,500|6,800|
|Accountancy|||3,000|3,000|3,000|
|Meetings|||402|402|253|
||||9,902|9,902|10,053|
|Analysed|between|||||
|Charitable|activities||9,902|9,902|10,053|



## 

## 

|The average|monthly<br>number ofemployees<br>during th|e year was:||
|---|---|---|---|
|||2021|2020|
|||Number|Number|
|Museum||||
|Shop||||
|Adminstration||||
|Total||||
|Employment|costs|2021|2020|
||||8|
|Wages and|saladies|295,577|301,442|





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||||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|
||||||||funds||
|||||||||5|
||||||||2021|2020|
|Net|loss|on|disposal|oftangible|fixed|assets|52||
||||||||52||



## 

||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds|funds||
||||2021|2021|2021|2020|2020|2020|
||||F|6<br>6|||f:||
||Revaluation|of|||||||
||investments||146,665|9,475|156,140|(397,473)|4,450|(393,023)|
|14|Tangible fixed assets||||||||
|||||Assets under|Computer<br>and|Museum|Fixtures and|Total|
|||||construction|other|collection|fittings||
||||||equipment||||
|||||6|f||||
||Cost||||||||
||At 1 January|2021 as|restated|750,000|33,395|||783,395|
||Additions||||16,436|16,138|750,000|782,574|
||Disposals||||(21,197)|||(21,197)|
||Other changes|||(750,000)|||750,000||
||At 31 December 2021||||28,634|16,138|1,500,000|1,544,772|
||Depreciation|and impairment|||||||
||At 1 January|2021|||23,585|||23,585|
||Depreciation|charged|in the year||4,755|3,228|150,000|157,983|
||Eliminated<br>in|respect ofdisposals|||(21,145)|||(21,145)|
||At 31 December 2021||||7,195|3,228|150,000|160,423|
||Carrying<br>amount||||||||
||At 31 December 2021||||21,439|12,910|1,350,000|1,384,349|
||At 31 December 2020||as restated|750,000|9,810|||759,810|





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## 

||||||||||Heritage|assetsf|
|---|---|---|---|---|---|---|---|---|---|---|
|At|1|January|2021|and|at|31|December|2021||21,080|



## 

## 

||||||Listed|Listed|Total|
|---|---|---|---|---|---|---|---|
||||||investments:|investments:||
||||||Museum|Museum||
||||||Developmeqt|6||
||Cost orvaluation||||Fund|||
||At 1 January 2021||||1,599,246|89,178|1,688,424|
||Additions||||38,724|2,438|41,162|
||Valuation|changes|||146,666|9,475|156,141|
||Disposals||||(450,000)||(450,000)|
||At 31 December 2021||||1,334,636|101,091|1,435,727|
||Carrying|amount||||||
||At 31 December 2021||||1,334,636|101,091|1,435,727|
||At 31 December 2020||||1,599,246|89,178|1,688,424|
|17|Financial|instruments||||2021|2020|
|||||||6|6|
||Carrying|amount offinancial assets||||||
||Instruments<br>measured||at fair value through|profit or loss||1,435,727|1,688,424|
|18|Stocks|||||||
|||||||2021|2020|
|||||||6|6|
||Finished|goods and goods for resale||||24,975|24,975|





## 

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## 

|Credi|tors: amounts<br>falling due within one year|||
|---|---|---|---|
|||2021|2020|
|||6|6|
|Trade|creditors||2,253|
|Other|creditors|38,546|91,161|
|||38,546|93,414|





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|It was identified|that expenditure<br>of 8750,000 was incurred|that expenditure<br>of 8750,000 was incurred|in 2020 relating|in 2020 relating|in 2020 relating|to the bespoke|to the bespoke|manufacture<br>of|manufacture<br>of|
|---|---|---|---|---|---|---|---|---|---|
|cabinets for the|museum<br>at Worthy Down. This expenditure||should have been|||capitalised|but|was recognised||
|as unrestricted<br>revenue<br>expenditure.<br>This has been amended<br>through<br>a pdior||||||year restatement|||to recognise|
|the assets as tangible assets, reducing<br>the expenditure<br>on||charitable||activities||and increasing||the|unrestricted|
|funds.||||||||||
|Expenditure<br>on|charitable<br>activities<br>per<br>financial<br>statements|||as<br>at|31|||||
|December 2020|||||||||1,449,251|
|Capitalisation<br>of|expenditure<br>on cabinets for new museum||||||||(750,000)|
|Restated expenditure<br>on charitable<br>activities per financial||statements||as at|31|||||
|December 2020|||||||||699,251|
|Tangible assets|per financial statements<br>as at 31 December||2020||||||9,810|
|Capitalisation<br>of|expenditure<br>on cabinets for new museum||||||||750,000|
|Restated expenditure<br>on charitable<br>activities per financial||statements||as at|31|||||
|December 2020|||||||||759,810|
|General unrestricted<br>funds per financial<br>statements<br>as at 31|||December 2020||||||2,166,593|
|Capitalisation<br>of|expenditure<br>on cabinets for new museum||||||||750,000|
|Restated expenditure<br>on charitable<br>activities per financial||statements||as at|31|||||
|December 2020|||||||||2,916,593|





## 

## 

|25|Cash generated<br>from operations|Cash generated<br>from operations||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||||as restated|
|||||||6|F|
||Deficit for the year|||||(163,834)|(634,520)|
||Adjustments<br>for:|||||||
||Investment<br>income recognised|in statement||offinancial|activities|(41,182)|(91,641)|
||Loss on disposal oftangible<br>fixed assets|||||52||
||Fair value gains and losses on|investments||||(156,140)|393,023|
||Depreciation<br>and impairment<br>oftangible||fixed assets|||157,983|1,312|
||Movements<br>in working<br>capital:|||||||
||(Increase)/decrease<br>in stocks||||||2,445|
||(Increase)/decrease<br>in debtors||||||946|
||(Decrease)/increase<br>in creditors|||||(54,869)|60,380|
||Cash absorbed<br>by operations|||||(257,990)|(268,055)|
|26|Analysis ofchanges<br>in net funds|||||||
||The trust had no debt during the year.|||||||